StockNews.com Initiates Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

Equities research analysts at StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a note issued to investors on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ CASI traded down $0.09 during midday trading on Tuesday, hitting $2.66. The stock had a trading volume of 2,400 shares, compared to its average volume of 153,450. The company has a market cap of $35.64 million, a P/E ratio of -1.32 and a beta of 0.41. The company has a quick ratio of 2.60, a current ratio of 3.55 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $3.35 and its 200-day moving average is $4.90. CASI Pharmaceuticals has a 52 week low of $1.85 and a 52 week high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Thursday, March 28th. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $9.40 million. CASI Pharmaceuticals had a negative net margin of 79.30% and a negative return on equity of 77.55%.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned about 0.30% of CASI Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of China, the United States, and internationally. It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.